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Spartan Motors Board Declares Stock Dividend

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May 9, 2013 by   Leave a Comment

Spartan Motors Inc., parent to Spartan Chassis Inc., announced that its board has declared a cash dividend of 5 cents per share of common stock.

The Charlotte, Mich.-based manufacturer of custom chassis, emergency response and delivery and service vehicles reported its semi-annual dividend will be payable on June 27 to shareholders of record at the close of business on May 23.

“The approval of this semi-annual dividend reflects the board’s confidence in Spartan’s operations, financial strength and strategic direction. This marks the 20th consecutive year that Spartan has paid a cash dividend to shareholders, a record we are very proud of,” said John Sztykiel, CEO of Spartan Motors. “The board is committed to providing shareholders a consistent return component for their investment and builds the dividend into its annual capital plan.”

Spartan Motors on Wednesday (May 8) reported a net loss for its first quarter on a 19% decline in sales.

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